There are only more than 2 months left to focus on disbursing public investment capital in 2024, while the resources that need to be disbursed are huge. Now is the time for ministries, branches and localities to race against time.
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| To promote disbursement of public investment capital in 2024, a series of solutions have been emphasized by the Ministry of Planning and Investment. |
Race against time
On the last working day of last week, Deputy Prime Minister Ho Duc Phoc chaired a meeting of Working Group No. 4 and Working Group No. 7 of the Prime Minister to inspect and urge, in order to remove difficulties and obstacles, and promote the disbursement of public investment capital in 2024. Representatives of 26 relevant ministries, branches and localities attended this meeting.
Among the ministries, branches and localities in these two working groups, many units have disbursement rates below the national average. Specifically, in Working Group No. 4, there are 5 ministries and 3 localities; and in Working Group No. 7, there are two provinces, Kon Tum (42.93%) and Lam Dong (38.37%) with disbursement rates lower than the national average.
A day earlier, Prime Minister Pham Minh Chinh personally made his third field survey of the two expressway projects Dong Dang (Lang Son) – Tra Linh (Cao Bang) and Huu Nghi – Chi Lang (Lang Son province). The Prime Minister requested that these two projects be completed within 2025, contributing to the opening of the expressway from Cao Bang to Ca Mau…
Meanwhile, Ho Chi Minh City, Da Nang, Hung Yen... are all urgently promoting the disbursement of public investment capital in the sprint. Ho Chi Minh City is one of the most worrying localities when at the end of October 2024, the disbursement rate only reached about 22% of the capital assigned by the Prime Minister, much lower than the plan.
With a total resource of more than VND 79,263 billion allocated in 2024, Ho Chi Minh City still has more than VND 62,000 billion to be disbursed in the next 2 months. This is a very large number, making the disbursement target of 95% this year, which Chairman of Ho Chi Minh City People's Committee Phan Van Mai has repeatedly affirmed, a greater challenge than ever.
Better yet, Da Nang has disbursed 60% of the assigned plan by early November 2024, but the pressure is not small. To achieve the disbursement target of 95%, the City leaders have continued to request investors and project management units to speed up construction of projects that are behind schedule compared to the contract commitments. Meanwhile, the leaders of the City People's Committee and departments and branches are responsible for directing and speeding up the disbursement progress...
Thus, not only ministries, branches, and localities, but also members of the Government are urgently accelerating the disbursement of public investment capital. The concern is not small, when according to the report of the Ministry of Finance, in the first 10 months of 2024, the disbursement of public investment capital only reached 52.29% of the plan assigned by the Prime Minister, about 4 percentage points lower than the disbursement rate of the same period last year (56.7%).
It is worth mentioning that there are still 33 ministries, branches and 22 localities with 10-month disbursement rates below the national average. Meanwhile, public investment disbursement is one of the important driving forces for economic growth in the last quarter of the year to reach 7.4-7.6%, bringing the whole year's GDP growth to 7% as the Government's target. In the current sprint, we cannot slow down any longer!
Remote preparation step
At the same time, activities to promote the disbursement of public investment capital were carried out by ministries, branches, localities and the Government, the Draft Law on Public Investment (amended) was brought to the National Assembly for discussion. Many breakthrough contents, including decentralization, stronger delegation of power, reform of investment procedures, as well as investment preparation work, etc. were proposed.
According to Deputy Minister of Planning and Investment Tran Quoc Phuong, this is an important institutional breakthrough. Therefore, when the Draft Law on Public Investment (amended) is passed, expected in the 8th Session of the 15th National Assembly, the disbursement of public investment capital is expected to have a more positive change, starting from next year. "Next year, when the Law comes into effect, some of the problems and backlogs from the past will be resolved," said Deputy Minister Tran Quoc Phuong.
Recently, the Prime Minister issued Official Dispatch No. 115/CD-TTg on resolutely implementing tasks and solutions to promote disbursement of public investment capital in the last months of 2024. Accordingly, the Prime Minister requested ministries, central agencies and localities to focus on implementing flexible, creative, timely and effective measures and solutions; resolutely and highly determined in directing and operating, clearly assigning people, tasks, responsibilities, progress and results; strengthening discipline and order in disbursing public investment capital; focusing on inspection and supervision work, promptly removing bottlenecks and obstacles in implementation. 
When difficulties and problems are resolved, when investment preparation is better implemented, disbursement will also be better. This is a rather heavy task, because by 2025, the amount of public investment capital allocated is not small, about more than 790,000 billion VND. This is also the last year of implementing the Medium-Term Public Investment Plan 2021-2025, so if it is not accelerated from the beginning of the year, the pressure on disbursement will be very large.
But before discussing the story of next year, to promote the disbursement of public investment capital in 2024, a series of solutions have been emphasized by the Ministry of Planning and Investment. These include strengthening discipline and discipline in public investment; quickly removing difficulties and obstacles, including those related to construction materials; promoting the activities of the Prime Minister's working groups on urging public investment disbursement; enhancing the responsibility of leaders...
Speaking at the meeting with 26 localities of Working Group No. 4 and Working Group No. 7, Deputy Prime Minister Ho Duc Phoc also emphasized that there are only 45 days left until the end of 2024. To disburse 95% of the capital as committed, great efforts must be made, working day and night, procedures must be timely, strictly ensured, and no loss will occur.
Referring to important amendments to the Law on Public Investment, especially on decentralization and delegation of power, Deputy Prime Minister Ho Duc Phoc said that decentralization and delegation of power in the spirit of "locality decides, locality acts, locality takes responsibility" will create initiative, helping public investment projects to be completed soon and promoted effectively.
However, along with decentralization and delegation of authority, close supervision is required. “When investing, localities must have a long-term vision, do it quickly, do it strongly, do it firmly, ensure the quality of the project, and avoid waste,” Deputy Prime Minister Ho Duc Phoc emphasized.
Source: https://baodautu.vn/giai-ngan-dau-tu-cong-chay-dua-voi-thoi-gian-d230225.html
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